M.J.T. & Grover Cleveland Claims Incorportated Into Company
ANOTHER DEAL CLOSED
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Gold Hill Properties Secured.
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EIGHTEEN ACRES PATENTED
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THERE ARE IN ADDITION TO THE MINERAL
POSSIBILITIES A NUMBER OF TOWN LOTS
COVERING THE CLAIMS.
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Another successful flotation has been accomplished through the agency of R. P. Davie and company. Mr. Davie has just secured the M.J.T. and Grover Cleveland mining claims, located on Gold hill within the corporate limits of Cripple Creek, and has incorporated them into a mining company controlled by well-known local mining men.
The property has a valuation of $50,000, according to the price at which the stock is selling to-day.
There are in addition to the possibilities of mineral, which, by the way, are large, a number of town lots covering the two claims which are valued at $25,000.
These lots cannot but be a fertile source of revenue in the future, as is the case with the Mt. Rosa company of Victor.
The company has a capitalization of 1,250,000 shares, of which amount 200,000 have been set aside in the treasury as a reserve.
The company is well officered by men of standing in the mining world.
Mr. E. D. Marr, president
F. E. Brooks, vice-president
A. J. Bendle, secretary
R. P. Davie, treasurer
These gentlemen, together with C. M. MacNeill of the Colorado-Philadelphia Reduction works, form the directorate for the first year.
A vigorous policy of development has been inaugurated.
The property owned by the company comprises the M.J.T. and Grover Cleveland claims, located on west Gold hill, 18 acres patented. They lie immediately north of the territory of the National and Oriole Gold Mining companies, and adjoin the Key West ground on the south side.
Attention was first called to this section about six months ago by activity upon the property of the National company where on the Red Bird a vein was opened up which has since proved to be a steady shipper, this property coming to the front as the maiden producer of that section of Gold hill.
There were many who scoffed; but as development work has progressed in that section it has demonstrated that there is gold there, as is fully attested by weekly shipments of the National company.